South Korea Contact Lenses Market to be Dominated by the Rising Incidences of Refractive Errors Through 2028.
Increasing incidences of
refractive errors such as myopia, presbyopia and hypermetropia are expected to
drive the growth of South Korea Contact Lenses market in the forecast period
2024-2028.
According
to TechSci Research report, “South Korea Contact Lenses Market – By
Region, Competition, Forecast & Opportunities, 2018-2028F”, South Korea Contact Lenses market is anticipated to grow at a steady rate in
the forecast period 2024-2028. This can be ascribed to the rising incidences of
refractive disorders and the growing geriatric population.
Additionally, the popularity of e-commerce and
online retail is making it easier for consumers in South Korea to purchase
contact lenses, driving the growth of the market.
Furthermore, the growth is influenced by the entry
of new players, manufacturing contact lenses. These emerging players could be emerging
startups, established companies expanding their product lines, or international
brands seeking to enter the market.
The market's expansion is impeded by the increasing
popularity of laser eye surgery, aging population, price sensitivity, stringent
regulations, and limited access to eye care. Laser eye surgery is becoming
increasingly popular in South Korea, and some people are choosing this option
over contact lenses. Because people prefer contact lenses over prescription
lenses. the market expansion will be constrained by these factors over the
forecast period.
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The South Korea Contact Lenses Market can be segmented by modality,
by design, by material type, by application, by distribution channel, and by region.
The South Korea Contact Lenses Market can be
divided into Reusable and Disposable, based on modality. The disposable contact
lenses will acquire the largest share in the forecast period, owing to the
several advantages of disposable contact lenses over reusable contact lenses.
Disposable contact lenses are a more convenient option for the population.
The South Korea contact
lenses market is divided into Silicone Hydrogel, Hydrogel, Gas Permeable, and
Others based on the material type. Silicone hydrogel contact lenses are a type
of soft contact lens that has become increasingly popular in recent years due
to their high oxygen permeability and comfortable wear. South Korea is known
for its strong focus on cosmetics, and silicone hydrogel lenses are available
in a variety of colors and styles. This can make them appealing to wearers who
want to enhance their natural eye color or change their appearance. However, contact
lenses made of hydrogel material are less permeable to oxygen than silicon
hydrogel and result in dryness because of water loss.
Based on application,
the South Korea contact lens market may be further segmented into Corrective,
Therapeutic, Cosmetic, and Others. Corrective contact lenses hold the greatest
market share in South Korea contact lens market. With an increase in refractive
error instances and a corresponding increase in the need for ophthalmic
treatments to treat vision impairment issues, people are increasingly using
contact lenses for corrective purposes. Cosmetic contact lenses are not meant
to correct vision; instead, they are mostly used to alter the appearance
(colour) of the eyes.
Major
companies operating in South Korea Contact Lenses Market are:
- Johnson & Johnson Korea Ltd.
- Alcon Korea Ltd
- Menicon Korea Co., Ltd.
- EssilorLuxottica SA
- HOYA LENS KOREA CO., LTD.
- Geo Medical Contact Lens
- Polytouch Contact Lens Co.
- Belmore Contact Co., Ltd.
- Dreamcon Co., Ltd.
- G&G Contact Lens
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“The South Korea
contact lens market is expected to expand significantly during the coming
years. Due to the customer demand for online shopping, as well as the ease of
obtaining contact lenses faster and for less money through e-commerce, this
rapid increase is projected by the quickly expanding E-commerce. Additionally,
the rise in refractive error cases and the use of cosmetic contact lenses to
improve appearances, both contribute to the expansion of market.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“South Korea Contact
Lenses Market By Modality (Reusable v/s Disposable), By Design (Spherical,
Toric, Multifocal, Others), By Material Type (Silicone Hydrogel, Hydrogel, Gas
Permeable, Others), By Application (Corrective, Therapeutic, Cosmetic, Others),
By Distribution Channel (Retail Stores, Hospitals & Clinics, Online)
Region, Competition, Forecast & Opportunities, 2018-2028F”, has
evaluated the future growth potential of South Korea Contact Lenses Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in South Korea Contact Lenses Market.
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